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CH276 | GSI
🕑 Added 2025-04-03 03:51:28 +0000 UTCA few hours later
Woo Ho-geun sat across from Kwon Seung-seop, the president of Donghae Mutual Credit Union, in a private room at a high-end Japanese restaurant in Seoul.
An elaborate spread of fresh sashimi and exquisite dishes filled the table, yet neither of them had touched much of the food.
Having been summoned without explanation, Kwon Seung-seop had listened to Woo Ho-geun’s request—and was now staring at him, eyes widened in shock.
“So, you’re asking me to approve an illegal loan?”
While Kwon Seung-seop struggled to hide his alarm, Woo Ho-geun remained unfazed, calmly setting down his glass.
“As you know, we need significant funds for our equity battle against Daeheung Group, but securing them hasn’t been easy.”
Donghae Mutual Credit Union, a subsidiary, had already been discreetly providing loans under the guise of secured lending, so Kwon Seung-seop was well aware of the situation.
“I’d love to help, but we’ve already loaned out 20 billion won. We simply can’t extend more.”
Kwon Seung-seop’s expression was troubled.
“That’s precisely why we need to use a paper company as an intermediary.”
Woo Ho-geun spoke as if it were just another business strategy, but using a shell company for loan diversion was blatantly illegal.
‘I had a bad feeling the moment he called for this meeting.’
Kwon Seung-seop felt as if he had just stepped in something filthy.
But Woo Ho-geun was the guaranteed successor of the group. Offending him could mean not only losing his chance at reappointment but possibly being forced out before his term even ended.
Now that he had been called in and made privy to the plan, outright refusal was no longer an option—not if he intended to keep his position.
Forcing a neutral expression, Kwon Seung-seop cautiously asked, “How much do you need?”
“I’d like to secure as much as possible, but considering the credit union’s circumstances, I’ll settle for an additional 30 billion won.”
“T-Thirty billion won?”
Kwon Seung-seop had been prepared to explore ways to scrape together 2 to 3 billion, maybe even 5 billion, but the figure Woo Ho-geun threw out was on an entirely different level.
He was speechless.
Yet Woo Ho-geun, unfazed by his reaction, pressed on.
“The situation is urgent, so I need the funds as soon as possible.”
His tone made it sound like the deal was already set.
Sweat beaded on Kwon Seung-seop’s forehead as he hesitated, struggling to find a way out.
“That’s not an easy amount to pull together, especially under these conditions…”
His indirect refusal immediately caused Woo Ho-geun’s expression to harden.
Seeing the shift in demeanor, Kwon Seung-seop’s heart pounded.
Panicked, he quickly backtracked.
“I-I might be able to manage 3 billion. No, maybe even 5 billion.”
It was a desperate concession, but it was nowhere near what Woo Ho-geun wanted.
With a dissatisfied expression, Woo Ho-geun lowered his voice.
“Kwon President.”
“…Yes, sir?”
Meeting his sharp, predatory gaze, Kwon Seung-seop instinctively tensed.
“I’m not here to ask for a favor.”
His unwavering stare bore into him, applying unmistakable pressure.
At that moment, Kwon Seung-seop truly felt like prey trapped before a wolf.
Woo Ho-geun’s voice turned cold and firm.
“I won’t waste time arguing. You have fifteen days. Approve the loan through the paper company by then.”
“H-However, if this causes problems, the consequences could be severe. Does the chairman even know about this?”
At that, Woo Ho-geun’s eyebrow twitched slightly.
“You’re well aware that my father has given me full authority over this M&A, aren’t you?”
His response was deliberately vague, laced with irritation.
In truth, he hadn’t yet informed Chairman Woo Yong-gap. If his father found out, he’d undoubtedly explode in fury—launching such a risky maneuver without prior approval was something he would never tolerate.
But after being outmaneuvered by Seok-won once again, Woo Ho-geun was blinded by rage. The only thing on his mind was securing victory at the upcoming emergency shareholders' meeting and taking control of Mido Department Store.
‘Even if I get caught later, as long as I win, I’ll be forgiven.’
Hadn’t he made a similar move before—borrowing money from his uncle without consulting his father—only to be praised in the end?
Reassuring himself with that thought, Woo Ho-geun pushed aside any lingering doubts.
Unaware of these internal calculations, Kwon Seung-seop assumed the chairman had approved the plan. That left him with little room to maneuver.
If he had any intention of keeping his position, there was only one option.
After a long silence, Kwon Seung-seop finally looked up, resigned.
“…Understood. I’ll proceed as you requested.”
At that, Woo Ho-geun’s rigid expression softened. He picked up a bottle and poured a fresh drink into Kwon Seung-seop’s empty glass.
“You’ve made the right decision. I won’t forget your support, and I’ll make sure my father hears about it as well.”
“…Thank you.”
Kwon Seung-seop could do nothing but accept the offered drink, his face dark with unease.
He wasn’t hoping for the chairman’s favor—he just prayed this wouldn’t turn into a disaster.
After finishing their meal, Woo Ho-geun stepped out of the restaurant, with Kwon Seung-seop seeing him off. He climbed into his waiting luxury sedan, and the vehicle smoothly pulled away.
Watching the black Mercedes disappear into the night, Kwon Seung-seop hesitated for a moment, his expression clouded with worry. Then, sighing, he turned and stepped into his own car—a domestic full-size sedan—assisted by his chauffeur.
But neither of them realized that they had been watched.
Across the street, a man in a thin jacket sat in the driver’s seat of an old silver Sonata.
Through the lens of his camera, he had meticulously captured every moment of their farewell.
Lowering the camera with its long zoom lens, he clicked his tongue in disappointment.
“Damn. Thought I’d get something worth selling… Looks like today’s a bust.”
After spending hours holed up in his car, surviving on nothing but bread and milk, he’d finally managed to take a few shots—but they didn’t seem lucrative enough to make it worth his while.
With a sigh, he set the camera down on the passenger seat and quickly started the engine.
Then, without hesitation, he pulled into traffic, tailing Woo Ho-geun’s departing car.
* * *
A few days later
Dressed in a red Gucci tie, Seok-won stood by the floor-to-ceiling window in his office, gazing out at the cityscape as he spoke on the phone with Woo Chun-il, Secretary-General of the New Era National Committee.
“The prosecution is expected to reopen the investigation into the Boseong Telecom stock manipulation case within the week.”
Hearing the long-awaited news, a smile crept onto Seok-won’s lips.
“Thank you for taking the time to handle this despite your busy schedule.”
Woo Chun-il chuckled, clearly in a good mood.
“Haha, don’t mention it. This situation actually worked in our favor. It’s given us a chance to go after the Blue House and the ruling party while also stabilizing our internal ranks after the chaos of the general election defeat. Honestly, I should be thanking you instead.”
Lowering his voice slightly, he added with a tone of familiarity,
“Between us, this is nothing. You can always count on me for something like this.”
“I truly appreciate that,” Seok-won replied humbly.
Despite his young age, he never overstepped; he knew how to strike the perfect balance. This only made Woo Chun-il like him even more.
“Ah, and the President wanted me to pass along his thanks for the chamoe melons you sent.”
“It was just a small token, but I’m relieved to hear he enjoyed them.”
“The President also asked to reschedule the meeting we postponed last time. When would be a good time for you?”
A gleam flickered in Seok-won’s eyes.
Meeting the future President wasn’t an opportunity that came often.
‘Especially considering that the so-called “Big Deals” between major conglomerates, orchestrated by the Blue House to resolve excessive and redundant investments post-IMF, make it all the more crucial to establish ties with Kim Jae-chun.’
These corporate restructuring deals weren’t voluntary; they were forced upon the conglomerates by the government, causing deep wounds and major upheaval in the industry.
‘But from another perspective, this is a once-in-a-lifetime opportunity to acquire valuable businesses at rock-bottom prices.’
For companies on the losing end, nothing could be more frustrating.
The TG (LG) Group, for example, was forced to hand over its prized semiconductor division to Hyunwoo (Hyundai) Electronics, leaving them devastated. They were so bitter that they vowed never to re-enter the semiconductor industry.
Ironically, things didn’t end well for Hyunwoo Electronics either.
They suffered astronomical losses in the fierce DRAM price war that followed, ultimately going bankrupt.
Looking back, TG Group might have been fortunate to have been forced out of the semiconductor business before the worst of it hit.
‘Of course, in the long run, they made a dramatic comeback and turned into a golden goose, but that was years later.’
Shaking off his thoughts, Seok-won adjusted his grip on the phone and said,
“Just let me know the time, and I’ll clear my schedule.”
“Got it. I’ll speak with the President and get back to you.”
“Thank you.”
“I’d love to chat more, but I have to head into the session now. Let’s talk later.”
“Of course.”
Seok-won gazed out the window, replaying his conversation with Woo Chun-il in his mind.
“President Kim Jae-chun… No, not yet. He’s still just the party leader,” he muttered to himself. “Either way, the thought of meeting him in person is already exciting.”
As he stroked his chin, pondering how to win Kim Jae-chun’s favor and forge a deeper connection, the office intercom suddenly blared.
Turning around, Seok-won walked over to his desk and pressed the button.
“What is it?”
[It’s Manager Choi Ho-geun on the line,] came Na Sung-mi’s voice through the speaker.
“Put him through.”
[Yes, sir.]
Moments later, the intercom rang again. Seok-won pulled out his chair, sat down, and picked up the receiver.
“It’s me.”
[I have something to report,] Choi said.
“Go on.”
[As soon as the afternoon session began, a surge of buy orders flooded in, pushing Mido Department Store’s stock price past the 72,000 won mark.]
A sense of unease flickered across Seok-won’s face.
“How many shares have been bought?”
[Over 200,000 in just the past hour.]
That kind of volume meant a major player was making a move.
Seok-won swiftly moved his mouse and pulled up the stock chart for Mido Department Store on his monitor.
Sure enough, the afternoon session had seen an influx of buy orders, forming a massive bullish candle as the stock price shot up.
“Have you identified the buyer?”
[We’re still confirming, but it looks like Donghae Group is back in the game.]
Seok-won had the same suspicion.
He had cut off their funding from Hong Kong, expecting them to falter and retreat. But now, seeing them launch a counterattack, he scowled.
Running a rapid mental calculation, he gripped the receiver tightly.
“Deploy funds from the Ubo Foundation and the textile accounts. We need to respond immediately.”
[How much should we put in?]
“Start with 10 billion won. If necessary, double that.”
[Understood.]
As soon as he issued the order, Choi Ho-geun responded without hesitation.
Setting down the receiver, Seok-won clicked his tongue as he saw the stock price inching past 73,000 won.
“They just can’t let go, can they? But it’s nothing more than a desperate struggle before the inevitable end.”
His gaze turned cold, like a frostbitten winter morning.
There was no sense of threat—just mild annoyance at having to waste unnecessary funds. The game was already set. All that was left was to deliver the final blow.
